Chao Phraya Mahakarn Public Company Limited (CMC) reports a 53.5% growth in the real estate business in the first half of the year, launching 3 new projects worth over 4.6 billion baht, targeting the new generation with accessible prices starting at no more than 2 million baht.

Dr. Wichian Patthayanun, CEO of Chao Phraya Mahakarn Public Company Limited (CMC) stated that the company's real estate revenue for the second quarter of 2022 saw a satisfactory increase of 53.5%, amounting to 88.7 million baht compared to the previous quarter (QoQ). In the first quarter, revenue was 165.8 million baht, while in the second quarter, it rose to 254.5 million baht, primarily driven by the ready-to-move-in condominium projects Bangkok Horizon Lite @ Phetkasem 48 and The Cuvee Tiwanon, with over 500 million baht in units awaiting transfer in the third quarter.

Part of this revenue came from the Big Lot purchase of The Excel Ratchada 18 project. The pre-sale project Cerocco Bangna 36 has already sold out 2 buildings, accumulating a backlog of over 500 million baht. The new marketing strategy has allowed CMC to better reach the Real Demand segment, along with improved cost management, resulting in a 28.1% increase in total revenue for the group in the second quarter of 2022, amounting to 336.4 million baht, up from 262.7 million baht in the first quarter, enabling the group to return to profitability with a net profit of 2.8 million baht.

Despite facing challenges from an economic slowdown and the impact of the COVID-19 pandemic in the first half of the year, CMC remains confident that the real estate business will recover in the second half, as housing remains a fundamental necessity. CMC plans to develop new products that align with changing consumer behaviors, incorporating new functions and technological innovations to enhance living standards, thereby encouraging consumer decision-making based on key factors such as location and price.

For the second half of the year, CMC is set to launch 3 new projects with a total value of over 4.6 billion baht targeting the new generation with affordable prices starting below 2 million baht. These include Kasa Deva Westgate Townhome Project, a 2-story townhome project located in Bang Kluay-Sai Noi area valued at over 500 million baht.

The The Cuvee Nawamin Condominium Project is located in the Nawamin-Ramkhamhaeng area, featuring a 35-story building with 665 units valued at over 2 billion baht.

Additionally, the The Cuvee Suksawat Condominium Project is situated in the Suksawat-Rama 3 area, comprising a 40-story building with 828 units and an 8-story parking building, valued at over 2.1 billion baht.